Digi Power X (NASDAQ:DGXX) Trading Down 14.4% – What’s Next?

Digi Power X Inc. (NASDAQ:DGXX) traded down 14.4% during mid-day trading on Tuesday . The stock traded as low as $4.10 and last traded at $4.22. 5,940,291 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 8,281,613 shares. The stock had previously closed at $4.93.

Analysts Set New Price Targets

Several research analysts recently commented on DGXX shares. Wall Street Zen raised Digi Power X from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Alliance Global Partners began coverage on Digi Power X in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $3.50 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research report on Wednesday, October 8th. Industrial Alliance Securities set a $3.50 target price on shares of Digi Power X in a report on Tuesday, September 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $2.50 price target on shares of Digi Power X in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.17.

Digi Power X Trading Down 14.4%

The stock has a fifty day simple moving average of $3.51 and a 200-day simple moving average of $2.73. The company has a market capitalization of $193.40 million, a PE ratio of -6.59 and a beta of 5.78.

Digi Power X (NASDAQ:DGXX) last issued its earnings results on Thursday, August 14th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.07. The business had revenue of $8.11 million for the quarter, compared to analyst estimates of $7.80 million. Digi Power X had a negative return on equity of 70.55% and a negative net margin of 58.85%.

Institutional Trading of Digi Power X

An institutional investor recently bought a new position in Digi Power X stock. Fortitude Advisory Group L.L.C. bought a new stake in Digi Power X Inc. (NASDAQ:DGXX) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 14,995 shares of the company’s stock, valued at approximately $34,000. Hedge funds and other institutional investors own 1.93% of the company’s stock.

Digi Power X Company Profile

Digihost Technology Inc operates as a blockchain technology company that focuses on digital currency mining in the United States. It mines for cryptocurrency. The company was incorporated in 2017 and is headquartered in Toronto, Canada.